Metaza Implementing Corporate Governance in a Family Business
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Metaza Implementing Corporate Governance in a Family Business: The Process It’s a well-known fact that family businesses can often be more susceptible to mismanagement, interpersonal conflicts, and abuses of power than their publicly traded counterparts. This has been borne out in numerous studies of family firms: they have a significantly lower likelihood of achieving market leadership, an annual return on equity lower than their publicly traded peers, and an average life span of three years shorter than that of publicly traded
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Corporate Governance is the art of running a business effectively with the support of a Board of Directors. Governance is the management approach of an organization. It is an organizational culture that focuses on controlling and managing businesses effectively. This model includes several principles, such as shareholder primacy, the board of directors, accountability, and risk management. As the name suggests, Metaza is an innovative family-owned textile manufacturing business headquartered in Zimbabwe. It has been a family concern since its formation in
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Metaza is a multinational pharmaceutical manufacturing company with a strong presence in South Africa, and it’s been around for over 3 decades. Our founder, who was a respected and experienced businessman in the country, founded Metaza as a family business in 1988. The company was initially small, and it had a vision to grow to become a multinational pharmaceutical corporation. Metaza Is Transforming Its Management and Governance Policies In recent years, the company has
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Metaza implemented corporate governance in a family business (Family-owned Business) with strong emphasis on transparency and accountability. click to read more The process was conducted through an organized process that involved a team of professionals. Initially, Metaza used a three-tier governance structure consisting of the Board of Directors, Executive Team, and Independent Directors. The executive team comprised executives of the business with hands-on experience and the Board of Directors represented key family members. address The Board was led by the CEO and Directors were appointed by the family members.
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Metaza Implementing Corporate Governance in a Family Business: How did you incorporate Corporate Governance in your family business, and what were the challenges faced during implementation? As one of the most important components of corporate governance, Corporate Governance is an essential element in ensuring the sustainable growth of family businesses. At Metaza, we embraced Corporate Governance in our family business, adopting a unique Corporate Governance System with clear reporting lines and effective decision-making. In the past, we had limited
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I, Ms. Rita, the current chairman and CEO of Metaza, a leading pharmaceutical company in the country, took up this task with the ultimate aim to enhance the firm’s performance, build a more profitable and sustainable future, and improve the lives of millions of patients. We understand that corporate governance is a crucial component that should be part of every family business, and we aim to lead the way by establishing clear principles, setting high standards, and ensuring transparency and accountability across all levels of
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In the mid-2010s, a family business with multiple generations and vast experience in the field of manufacturing, retail, and trading decided to implement corporate governance measures in order to enhance its competitiveness. The family had always prided themselves on being a hands-on management team, but in recent years, a greater focus on succession planning and strategic planning had become increasingly necessary. The owners, three brothers, wanted to ensure that their decisions were made with the best interest of the business at heart, rather than their own personal
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My family business, Metaza, has recently embarked on implementing corporate governance to enhance its competitive position in the global textile industry. Corporate governance, in a nutshell, is the set of procedures, policies, and controls that ensure the effective and efficient management of a corporation. By implementing corporate governance, a company can enhance its ability to meet the needs of its stakeholders, manage its resources efficiently, and maintain good relationships with them. Metaza has, in recent years, faced several hurdles in implementing corporate govern